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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (61749)	5/9/2019 4:05:25 PM
From: E_K_S	Read Replies (3) \| Respond to of 78687

Another value BUY in GOLD at $12.39/share. This was a 16% add to my current shares. Company announced earnings yesterday. Barrick Gold (NYSE: GOLD) +1.1% pre-market after posting better than expected Q1 earnings and a 17% Y/Y revenue increase to $2.1B in its first quarter of operations since the acquisition of Randgold Resources. Q1 gold production jumped 30% Y/Y to 1.36M oz. at all-in sustaining costs of $825/oz. vs. $804/oz. in the year-ago quarter, while copper output climbed 25% to 106M lbs. at all-in sustaining costs of $2.46/lb. vs. $2.61/lb. a year ago. The company reiterates its full-year production forecast of 5.1M-5.6M oz. of gold, a Y/Y increase of at least 13%, but expects all-in sustaining costs to rise to $870-$920/oz. from $806/oz. a year ago. ------------------------------------------------------------ I like that they can mine gold at/near $900/oz and sell at/above $1300/oz (Barrick's average realized gold price for Q1 was $1,307/oz. from $1,332/oz. in the prior-year quarter.) That's pretty good margins based on price (44%). Any rise in the price of Gold, will go directly to bottom line. Goal is to built a 2.5% portfolio position at/below current price. Currently a 1.7% portfolio position at an avg cost of $12.55/share. EKS